Yes, the poor can be taught to save-evidence from a survey of IDA program participants

The question whether multi-year, intensive financial literacy programs aimed at helping those with low incomes and few assets actually work out in the long-run has not yet been answered. The current study is the first to scrutinize the outcome of participation in the Individual Development Account program in order to fill this void. The findings of a mail survey suggest that those who completed the program are more likely to accumulate assets, continue saving, and establish investment accounts, compared to those leaving the program prematurely. The influence of self-control and future orientation on savings behavior is discussed.